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  • 29-05-21

    Saudi Arabia allows mothers to open bank accounts for their children

    (MENAFN)The Saudi Arabian Monetary Authority (SAMA) is going to agree to mothers to open bank accounts on behalf of their children, so long as they are minors.

    SAMA sought to help mothers to manage their children’s affairs. Children’s accounts will be in the name of the minor but a subsidiary of the mother’s account.

    Saudi Arabia was the top reformer among 190 economies in the World Bank’s Women, accomplishing a score of 80 out of 100, compared with 2020’s 70.6.

    A married mother had to bring her husband or get consent from the court, to open a bank account for her children, before the announced decision.

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